GAD World

Attendees, exhibitors & solutions

Who this event is for

Industry trends

Key trends shaping this market and its wider industry.

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Hotel tiers

A range of accommodation options near the venue and across key areas.

Local transport

Get around the city with these convenient transport options.

Frequently asked

Glossary

1

Airport concession

A contract under which a government grants a private operator the right to operate, develop or expand an airport for a fixed term, usually in exchange for an upfront fee, annual concession fees and committed capital investment.

2

Aeronautical revenue

Income an airport earns from aviation activity itself, principally passenger and aircraft charges such as landing, parking, passenger and security fees, typically set under a regulatory formula.

3

Non-aeronautical revenue

Commercial income unrelated to aircraft movements, including retail and duty free, food and beverage, car parking, advertising, real estate and cargo handling leases. Its share of total revenue is a key metric for airport investors.

4

Single till

A regulatory approach where commercial and aeronautical revenues are pooled when setting the allowed return, so retail profits reduce the charges airlines pay. The dual till alternative excludes commercial income from the regulatory calculation.

5

Regulatory asset base (RAB)

The capital value of an airport's regulated assets on which the regulator allows the operator to earn a return. RAB-based regulation is used in several European jurisdictions to set price caps for a multi-year period.

6

Traffic risk

The exposure an airport investor carries if passenger volumes fall below forecast, reducing aeronautical and commercial revenue. Allocating traffic risk between the public grantor and the private operator is central to concession design.

7

Availability-based PPP

A public-private partnership in which the private party is paid for making infrastructure available to an agreed standard rather than for traffic volume, shifting demand risk back to the public authority.

8

Master plan

The long-range document setting an airport's phased development path, including runway, terminal and landside capacity, CAPEX phasing and trigger points tied to traffic thresholds.

9

CAPEX programme

The multi-year schedule of capital investment an airport commits to, covering terminal expansion, apron and runway works, baggage and IT systems; lenders typically test concession bids against it.

10

Slot coordination

The process of allocating scarce take-off and landing times at congested airports, governed at European level, which constrains an airport's ability to grow traffic even when terminal capacity exists.

11

Due diligence

The technical, financial, legal and traffic review investors run before bidding on or acquiring an airport asset, and the workstream that most often drives advisers to an event like GAD World.

12

WACC

Weighted average cost of capital, the blended return required by debt and equity holders. It is the discount rate used in airport valuations and a central input to regulated charge settlements.